Japan’s gross domestic product climbed an annualized 11.7 percent in the fourth quarter of 2020, the Cabinet Office said on Tuesday.
That missed expectations for an increase of 12.8 percent following the 22.9 percent surge in the three months prior.
On a quarterly basis, gross domestic product gained 2.8 percent - again missing forecasts for 3.0 percent and down from 5.3 percent in the previous three months.
Capital expenditure was up 4.3 percent on quarter, beating forecasts for a gain of 4.1 percent following the 2.4 percent contraction in Q3.
External demand was up 1.1 percent on quarter in Q4, slowing from 2.6 percent in the third quarter - while the price index added 0.3 percent on year after rising 1.2 percent in the previous three months.
Private consumption was up 2.2 percent on quarter, slowing from 5.1 percent in the third quarter.
Also on Tuesday, the Ministry of Internal Affairs and Communications said that the average of household spending in Japan was down 6.1 percent on year in January, coming in at 267,760 yen.
That missed expectations for a decline of 2.1 percent on year following the 0.6 percent contraction in December.
The average of monthly income per household stood at 469,254 yen, down 2.5 percent on year.
Individually, spending was down for food, housing, clothing, medical care, transportation and recreation. It was higher for fuel, furniture and education.
On a monthly basis, household spending was down 7.3 percent.
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